Frumecar innovative culture: the path from vision to product (or service).
In the previous post, we talked about how Frumecar has taken up innovation as a differential value, an attitude of constantly looking towards the future. In this post, we are going to talk about how innovation goes from being a word – a concept that defines and motivates our corporate activity – to being a way of working, managing and producing, of providing answers to our clients’ questions.
At Frumecar, we are evolving from a model that sees innovation as a company-centric movement to a customer-centric one.
• The first model is linear; it runs from the inside out. It is mainly based on analysing our capabilities and competencies and looking at what our competitors are doing. It does not go off the beaten track.
• The new approach is dynamic. It runs from the outside in. It means thinking outside the frameworks of what works now. In this scheme, each member of the company is a sensor susceptible to capturing changes and new opportunities in the external environment.
Innovation, in order to be fruitful, needs some channels to make it efficient. At Frumecar, we follow a specific innovation project management methodology. Under the umbrella of the Lean Startup method, different phases are chained together, governed by various models of innovation generation: Design Thinking, Lean UX (applying Lean methodology to digital products), Agile and Growth Hacking.
These theoretical formulas are very useful, as they give our efforts direction. However, they had to be adapted to the reality of our company and the industry. The implementation of a culture of innovation meant that new ways of doing business had to be discovered, without losing sight of existing lines of business. Reconciling the present with the future. This means that opportunities had to be detected, and tested, at an affordable cost. Afterwards, they would either be discarded or fall under the innovation methodology.
With that learning and experience, the Innovation Committee was born. The objective was to break down the barriers of managing innovation from a single department, in order to install an innovative culture throughout the company. To get everyone involved.
A structure was created, in parallel with the traditional one, to promote, strengthen and manage innovation. The committee meets regularly, reviews new proposals that have come in individually to each committee member, and decides whether projects should continue or be discarded.
Under the committee are the work teams that manage the innovation projects in practice. There is always a person in charge who reports to the committee.
The vision and mission of the innovation structure are defined by the committee: the first is to create and mobilise an innovative culture in Frumecar, and lead value creation in the concrete sector. Our mission is to achieve the best – and most comprehensive – service for our clients.
From this starting point, we also set the objectives and design the matrices with which the projects are measured.
These matrices are not one-dimensional, but are based on different criteria to make them more flexible and capable of detecting and evaluating good ideas.
One dimension is that which combines the market situation with that of the technology at our disposal. This market/technology matrix outlines 3 horizons:
1. Areas in which Frumecar has great control.
2. Areas with intermediate control.
3. Areas without any control.
Horizon 3 is very important: this is where disruptive innovations take place. To give a familiar example, it is in this area where services like the Google search engine, products like the iPhone, or platforms like AIRBNB are discovered. Elements that completely transform the markets where these innovations are implemented.
We mentioned before that innovation has to be balanced with our current business. That sketches another 3 horizons:
1. Innovations that pay off in less than a year.
2. Innovations that pay off in 2 to 3 years.
3. Innovations that pay off in more than 3 years.
Our efforts are orientated with this double matrix, in which a balance between high-risk, medium-risk and very low-risk projects is a priority. The criterion is that there should always be projects of all three types going on at the same time.
At Frumecar, we understand innovation as a journey. A journey that we travel with all those who make up the concrete industry. The destination we are heading towards – to form a community of professionals, suppliers, employees and clients that seeks the common good – is as important as the stimulus that governs us: a project with a vocation for service whose main gear is research, development and innovation.
For those who want to share their path with ours, our door is open for participation. If you have your own idea that you want to carry out with us, or you would like to collaborate on the development of any of our projects, you can contact us through a form that you will find in this link.
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